Absorption Report


Absorption Report

The absorption rate is essentially the total number of months that it would take to sell all of the current listings in a particular market. These ratings are in a constant state of fluctuation, based on supply and demand, and usually involve all homes sold within the previous six-month period. A lower absorption rate means that the property will likely take a bit longer to sell, and conversely, a higher number indicates that the property is likely to sell much faster. Both buyers and sellers can use this data to help predict sales activity and home prices for the property in question. For example, if a homeowner lives in a market with an absorption rate of 5-months and is also anxious to sell due to a job transfer, then it might be in his or her best interest to be more aggressive in the listing price.

Seller's
Market
Balanced
Market
Buyer's
Market
< 5 months Inventory 5 months Inventory > 5 months Inventory

Houses 28% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months Sold in Last 6 Months Under Contract
Last 30 days
Sold in Last 6 Months
Absorption Rate Absorption Rate Months of Inventory Months of Inventory
176k-200k 2 0.3 0
201k-225k 2 0.3 0
226k-250k 3 0.5 0
251k-275k 1 13 1 2.2 0.5
276k-300k 6 35 9 1 1
301k-325k 20 55 5 0.5 2.2
326k-350k 41 118 14 0.5 2.1
351k-375k 43 113 13 0.4 2.3
376k-400k 55 153 20 0.5 2.2
401k-425k 42 98 12 0.4 2.6
426k-450k 47 93 20 0.3 3
451k-475k 35 65 5 0.3 3.2
476k-500k 27 58 1 0.4 2.8
501k-550k 48 79 6 0.3 3.6
551k-600k 39 46 7 0.2 5.1
601k-650k 21 35 3 0.3 3.6
651k-700k 6 18 1 0.5 2
701k-750k 10 10 0.2 6
751k-800k 5 7 1 0.2 4.3
801k-850k 3 4 0.2 4.5
851k-900k 2 1 0.1 12
901k-950k 1 2 0.3 3
951k-1m 2 0
1m-1.1m 2 0
1.1m-1.2m 2 0
1.2m-1.3m 2 0
1.3m-1.4m 1 1 0.2 6
1.4m-1.5m 4 0
1.5m-1.6m 1 1 0.2 6
1.7m-1.8m 2 0
2.75m-3m 1 0
9.01m-10m 1 0

Townhouses 23% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months Sold in Last 6 Months Under Contract
Last 30 days
Sold in Last 6 Months
Absorption Rate Absorption Rate Months of Inventory Months of Inventory
176k-200k 1 1 0.2 0
201k-225k 2 0.3 0
226k-250k 2 4 0.3 3
251k-275k 2 7 0.6 1.7
276k-300k 15 22 5 0.2 4.1
301k-325k 16 9 1 0.1 10.7
326k-350k 13 13 2 0.2 6
351k-375k 7 20 4 0.5 2.1
376k-400k 34 33 7 0.2 6.2
401k-425k 29 40 2 0.2 4.4
426k-450k 15 15 1 0.2 6
451k-475k 9 2 0 27
476k-500k 1 2 0.3 3
501k-550k 1 5 1 0.8 1.2

Condos 29% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months Sold in Last 6 Months Under Contract
Last 30 days
Sold in Last 6 Months
Absorption Rate Absorption Rate Months of Inventory Months of Inventory
126k-150k 1 0.2 0
176k-200k 1 0
226k-250k 1 2 0.3 3
251k-275k 1 4 0.7 1.5
276k-300k 1 3 1 0.5 2
351k-375k 2 0.3 0
376k-400k 4 0.7 0
426k-450k 1 2 0.3 3

Land 11% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months Sold in Last 6 Months Under Contract
Last 30 days
Sold in Last 6 Months
Absorption Rate Absorption Rate Months of Inventory Months of Inventory
26k-50k 2 1 0.1 12
51k-75k 1 0
76k-100k 3 4 0.2 4.5
101k-125k 3 0.5 0
126k-150k 1 1 0.2 6
151k-175k 1 0
176k-200k 3 0
226k-250k 2 1 0.1 12
251k-275k 1 0.2 0
276k-300k 1 0.2 0
376k-400k 1 0
426k-450k 1 0
501k-550k 2 0.3 0
651k-700k 2 1 0.1 12
801k-850k 2 1 0.1 12
1.1m-1.2m 1 0
1.2m-1.3m 1 0
1.3m-1.4m 1 1 0.2 0
2m-2.25m 1 0
2.75m-3m 1 0
3m-3.5m 1 0
5.01m-6m 1 0